For the week of May 16th thru May 22nd, 2010, the unofficial number of residential properties listed in northern Virginia (data by Metropolitan Regional Information Systems) was 758. With an interest in understanding market trends, it is significant to note that the make-up of traditional re-sales versus short-sales (pre-foreclosures) versus bank-owned listings in our area is currently concentrated in traditional re-sales.
Traditional Property Listings : 568 (535 were "Active"); 75% of total;
Short-Sales (pre-foreclosures): 134 ( 88 were "Active");17.6%;
Bank-Owned Foreclosures : 56 ( 52 were "Active"); 7.4%.
The area includes: Alexandria, Arlington, Fairfax City, Fairfax County, Falls Church, Manassas City, Manassas Park, and Prince William County.
This is a weekly real estate market update by Dan Bonner, licensed Virginia Associate Broker and member, MRIS.
copyright 2010, Dan Bonner, Inc.
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